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together to stop us from becoming greece. >> yes. >> man up, barack obama. strong words. >> he has a chance to be an historic president. what makes us greece? it's not because the tax code is at 35% versus 39.6. what's going to make this country greece, like every other western nation, retiring at 10,000 a day in terms of baby boomer, three workers for every retiree, in 20 years we'll have two. medicare and social security are about $30 trillion underfunded. if you did what tip o'neill and ronald reagan chose to do, reform entitlements, we become the most dominant place on the planet pretty quickly. so what i would plead with the president to do is use this mandate. redo revenue, which we should. but what keeps us from becoming the country we want to be and damns the future generations is entitlement and spending. when i was 21, my mom died, when i was 22 my dad died. if it wasn't for social security survivor benefits, my sister would have never gone to college. social security is going to fail. when i was 22 we needed the 300 and something bucks we got a month. i'm 57, i have no kids, i co
-- relation to gdp or never, we are not quite as bad as greece or portugal ornever, but they are just talking about a few ring keating billions. a trillion word is really unique to the united stat. and i think that is what is going to kill us, the absolute numbers. germany can affo to bailout greece. nobody can afford to bailout the united states, and i would agree actually th bill archer that i think he understated. if you take the total debt situation, you're talking about just shy of three-quarters of a million dollars for the -- per american faily. so you get a cup of coffee from a waitress in the diner, think of loading three-quarters of a million dollars of debt on to her shoulders for what? for what? does nothing to show for. lou: her children and their children that will be paying a large measure of that. great to have you with us. making spirits bright. and after america with one of the ugliest pictures of an american cadaver toe tag to. >> doom and the oven is the into debt. lou: at least some balance here. you know how much are presidenta taxes on our middle-class. >> the bill is p
real problem, the growing deficit on the path to greece, the goal gets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term deal. it doe't get recovery. >> we're going to get a bandaid deal an
or any american congress borrow anymore money until with fix this country from becoming greece. that requires significant entitlement reform to save social from bankruptcy and medicare from bankruptcy. social security is going bankrupt in about 20, 25 years. medicare is going bankrupt in 15 or 20 years. the baby boomers are coming in at 10,000 a day. and we just can't scene this. martha: president last week said we'll not play that game. last time around they wouldn't let the debt ceiling go up, i tell you right now, something to this effect we will play that game. >> we will play that game, mr. president. that is not a game. the game you're play something small ball. you're talking about raising rates on top 2% that would run the government for 11 days. you got reelected. how about doing something big that is not liberal? how about doing something big that is bipartisan. every big idea he has is a liberal idea that drowns us in debt. how been maing up, mr. president and use your mandate to bring this country together to stop us from becoming greece? doing what boehner, tip o'n
's reacting, at some point we will become greece, there aren't any more hypothesis. >> charles, why are they still relatively calm? i think they're relatively calm because of what charlie said. the markets believe we will get a deal. the leadership is trying to get a deal, but it's not easy and by the way by the way-- >> adam, adam. >> charlie, not the end of the world. >> markets like short-term fixes, too. and just because-- >> markets like money printing and. >> neil: by the way, i know i might offend some of you market enthusiasts here, but markets can be wrong and markets might be satisfied. >> they're always wrong. >> neil: a short-term gift and remember the first tarp vote rejected and the market fell about 800 points and run back together and get a deal going and the market ends up being 4,000 points lower a few months later. so, ben, my worry is basing everything you do on a market selloff. >> well, the markets are always wrong,eil because they change the next day or the next hour. and for long periods of time, they have a modest degree of predicted value. >> neil: would yo
in the manner greece is so doing. we're on our way to becoming another greek tragedy, unless we gee the economy growing 3 to 4% a year the debt will outrun us. before a matter of time all the government programs the democrats are giving them. that is why they reelected president obama will not be there. melissa: lindsey, at what point does it become painful for americans? he talks about all of sudden we can't issue debt. we talk about how much china owes of our, owns of our debt. we own a lot of our own debt too. >> that's the problem. we're really at the precipice. this is the point we have to make the tough decision if we will become the next greece or reform the programs and make a discernable dent into the debt we already service that we have right now. really doesn't seem like either side is willing to make concession. obama is only going to concede if he can tell his populace if he raised taxes on rich. republicans will only succeed if we made a dent in spending. neither side looks like they want to give. >> john, are we at a tippingpoint in the debt crisis we're starting to borrow more t
a cliff, not greece, but lower growth on a sustained beats, you are talking about when you get up debt there, it can hold back your growth for decades there are other things you can do to make up for it, you can have innovation and other improvements but it is definitely problematic. you know, you start getting up at levels twice where we are, then i think it gets really dangerous, nobody knows where inbetween you really fall off a cliff. i thigh it is hyperbole to say that the united states is going to become greece but it is not hyperbole to compare us to japan and wonder if we get stuck in this slow growth quagmire. europe might be even more in danger of that. >> rose: okay. let's stop right there. do you think that we are at risk of getting stuck in the slow growth quagmire that japan got stuck in, the united states economy? >> well, i would say we are in a mild version of it now, and, you know, we need to do improvements and reforms. i don't think spending money is the solution. there are smart ways to spend it for sure, but i don't buy this idea that bigger keynesian stimulus wi
continues on. tom, likely they will get less. the pensions in greece were guaranteed by the government, ma were cut as much as 35%. so, when you have government intervene shin in whainterventia private market enterprise, the public get hurt. like all of these safety net programs, the entitlement programs, once the seed is planted, they are almost impossible to get rid of, and left with a multibillion dollar deficit like in this case. tom: fha, we got into the mortgage mess because people had no skin in the game to a greatic tent, no money down, little money down, 1% be 3%, that is what the fha is still doing, making loans with almost no money down. why do you not expect a problem? >> we have got a problem. in my opinion, we got into housing crisis because of government, and as the administration takes laps about their successful bailout of general motors, that we lost billions of dollars o as taxpayers, we still have fharc, ha and fannie and freddie. tom: it is both of them are amazing. when it comes to fha, how -- this could take years to work this without, like you said, fannie and fredd
and reaching as far west as spain. to the east, it encompassed egypt, turkey, greece, and palestine, where jesus was born in the jewish land of judea, then ruled by king herod. >> in judea, the king, herod, was in effect a client king. he ruled almost in place of rome. he was the... he was the voice of rome, the instrument of rome, probably "instrument of rome" is best in that, because he... he had his own independent notions certainly. >> herod the great was probably one of the greatest kings of the post-biblical period in israel, but you wouldn't want your daughter to date him. he was ambitious, brutal, extremely successful. >> and it is one of the real untold ironies of jewish history that this man, who... who's the guy you love to hate in jewish history, really, leaves the most indelible mark on the face of the land of israel. >> it appears that herod thought of jerusalem as his showpiece. he really wanted to make it a place where people would come, just as people would have gone to athens, or rome, or the great cities of the mediterranean world. >> narrator: a meticulously accurate mo
to turn into greece first. depending on which of these scenarios we are talking about. it's all nothing. eventually they run out of money. the fed keeps print it. megyn: if we are going to be greece i would like a good euro. thank you. as the newtown shooting ignited a debate on gun control, some are talk about the assassination attempt of president reagan and his view on guns. michael reagan is here in a must-see interview. a michigan man is head to court after he decided to make a citizen's arrest of a police officer. here he is trying to pull the cop over. >> i said sir, you need to wear your seat belt. and it set me off. i was mad as hell. since i've lost weight i have so much more energy than i used to, when i'm out with my kids, my daughter'like, "mom, wait up!" and i'm thinking, "shouldn't you have more energy than me? you're, like, eight!" [ male announcer ] for every 2 pounds you lose through diet and exercise alli can help you lose one more by blocking some of the fat you eat. simple. effective. advantage: mom. let's fight fat with alli. have a healthier holiday at letsfightho
rather than contraction. it's been since october of last year. also abroad greece announcing it will buy back bonds through a dutch auction. the set up whether allow athenss to assess the level of demand before setting a final bryce for the deal. part of the country's efforts to cut its about a along debt. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel told a german tabloid that the question of the so-called haircut can be revisited. in the past, merkel's government had ruled out forgiving any debt. >> in corporate new, ubs is reportedly close to a settlement. the "new york times" says the swiss bank is expected to pay horn $450 million over claims that some of its employees submitted false libor rates. that's pretty huge story and we will take a look and ten to see what happens with this. also morgan stanley trader is under investigation by cme regulators over trades and treasury futures four years ago. at the time he was employed by goldman sachs. he's now head of global interest rate
. >> republicans frequently argue it's critical to get a handle on the deficit before the u.s. becomes like greece. there is a terrible economy with 26% unemployment highest in europe, almost no job opportunities for young people frequentenly lead toro riots in the streets. here is leading democrat is suggesting cutting spending too quickly is a real problem. >> the european community now is concerned about all the austerity. there are many, many things you can do to reduce debt. but still have a stimulus aspect of the economy. >> experts though say europe's us aer the city a drag on the economic growth because it relies too much on taxation while failing to reign in the expansion of government. that would seem to back up a republican theme in the fiscal cliff argument. >> if we raise taxes on the top two rate, a million small businesses who employ 25% of the work force it will cost us over 700,000 jobs and reduce economic growth, lower take home pay and those things. that is a bad scenario. >> the league negotiator on the republican side of the table facing mr. obama says raiding taxes on upper -
return to europe for inspiration and guidance for fiscal policy, taking greece, perhaps, as a standard for dealing with economic and budget crises. the speaker did a charge the president is slow walking the nation to the brink of a fiscal cliff. that is one of the speakers firmest in the strongest statements yet. >> this is in a progress report because there is no progress to report. the white house has wasted another week. there are a lot of things that are possible to put the revenue on the table, but none of it is going to be possible. the president insists on his position. insists on my way or the highway. lou: inconveniently the congressional budget office today reported that the federal deficit is already bulging. the cbo reports for thee first two months of fiscal 2013 that number $2,902,000,000,000, $57 billion more han the same two month time span last year. an the labor department today reported the unemployment rate fell to the 77%. good news, the lowest jobles rate in four years. the lower unemployment rate, however, the consequence of the more than 300,000 people who dropp
the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-market. >> oracle posts a strong quarter with even stronger guidance. the season rebound in europe. no impact from the fiscal cliff. >> and ge gets boosted from ubs's key call list on the weaker than expected macro environment. still on the list is including -- well tell you in a couple of minutes. >> general motors is up sharply in the pre-market session. the treasury department says it intends to sell the rest of its stakes in gm in the next 12 to 15 months. the automaker will buy back 200 million shares from treasury for $27.50 a share. treasury says it plans to sell its other remaining shares through various means in an orderly fashion. timothy masssad will join us later. this could be a buy signal with the government signaling i
a greece, too extreme, but i would say italy. holy irresponsible for any republican member of the house of representatives to vote for the package that mitch mcconnell is negotiating on their behalf without their leaders present. it is a ridiculous package. it does not work, and it will solve our long-term debt problems. gerri: i never have to guess at what you think. you are always clear isabela and entertaining. thank you for coming out tonight. have a great new year. >> happy new year. gerri: no votes in the house tonight. meanwhile, we go off the cliff tomorrow. it does not applicable be a happy new year. our political panel place the blame game next. ♪ [hip-hop music] ♪ - ♪ what's wrong with the world, mama ♪ ♪ people livin' like they ain't got no mamas ♪ ♪ i think the whole world's addicted to the drama ♪ ♪ only attracted to the things that'll bring the trauma ♪ ♪ where is the love - ma'am. - [gasps] - you forgot your purse. - oh. thank you. thank you very much. gerri: fiscal stiffed. that is of americans feel after congress failed to reach a deal on taxes an
seem like an emerging market economy here. >> are we greece? >> our politics are becoming as dysfunctional as greece. i mean, we're not greece, but if you look at what businessmen say about why they're not investing in the u.s., they will often give dysfunctional politics in washington as the top answer. it's not even tax rates that people are concerned about. it's just getting a deal, getting people aligned. >> we're going to roll some tape, but i just wanted to ask you quickly, last week your sort of advice to republicans was don't cave, compromise. >> right. >> so this week, given what we've seen so far, we see these one-on-one negotiations taking place, what do you think the best strategy on the part of the republicans is? >> don't cave. compromise. you're not going to get 35%. you're just not going to. you're not going to. the economy will go up in flames. you're just not going to get 35%. the president needs to understand he's not going to get 39.6%. if i were sitting in the house and the president asked me to go four, five percentage points up on tax rates right now
they agreed to give greece now within days 34 billion euros. they've done a deal where the ecb will regulate the biggest banks in europe and, importantly, the germans will be exempted, state run banks, savings banks. so the skeletons can stay in the german closet there as far as the banks are concerned. that was important for the germans. it is ironic in a year when so many people called for a breakup the european union this summit, poland actually said we'd like to start off applications to become the 18th member of the eurozone. that will play out during the course of next year. as far as the stock markets are concerned, today is relatively flat overall. no follow through from china which i mentioned earlier. i thought it was very interesting. here you go. >> the european markets are closing now. >> some are red. some are green. if you check the data you'll see we haven't really moved at all today. china was up 4%. shanghai was up 4% overnight. normally you would expect the australian miners, global miners listed in london to bounce on that. they didn't very much today. and that is partly
been doing is going to lead us to being just like greece. we will not be able to take care of the poor and needy or senior citizens. we've got to stop spending. host: this is from the congressional budget office -- social security, medicare, and medicaid are 41% of the federal budget. defense spending is 20% area do you cut? >> we have to cut across the whole circle. it is not the so-called congress' spending. it is everything in that pie plate. need to fix social security and medicare because they are going broke. democratic colleagues are totally in denial. they think they have a policy regarding social security and medicare. they say denied it is a problem and they deny -- and a delay fixing it and third, they will destroy the programs because they are denying and delighting and they are demonizing those of us who want to try to fix it. we need to fix it so that social security and medicare are available for those people needed. we've got to put in place policies that will do so. the democrats have been totally against are doing so. host: are you worried that the republicans are jus
yields have come down from 30, as you know, to 12.9%. they are below 13. way to go, greece. they have done very good so far. >> that's interesting, because europe has taken a back seat to many soft other issues. you still worried about europe? should that be part of our investment idea portfolio? >> as david said, that's improved dramatically, too, and it's really taken a back seat, so i would say, as david said, that some type of deal is priced into the market. >> let's do it this way. your single best idea to invest in, and then i'll get yours. >> financials, not necessarily the big banks but bank of new york melon. >> why? >> a processing bank, because it's the cheapest sector. a lot of momentum going for it right now. >> even the low rate that hurt their bottom line because it's tough to lend and borrow at such low rates. >> keep in mind, bank of new york melon, they are a processing bank so lending is not that big a deal to them. >> profit, production and personal income are the three things to watch, the three ps. >> what's your single best? >> our single best idea is apple comp
. my grandfather came here from greece. he opened a restaurant, the american dream. >> but he taught himself english. he taught himself to read the newspaper, and he became a very successful businessman. as he would say, only in america. youngstown was prosperous, and downtown youngstown was really prosperous. it was wonderful to go to downtown youngstown and be all dressed up in gloves and hat and going in and out of the shops and having lunch downtown. it was exciting. >> but that prosperity didn't last. youngstown ohio was the manufacturing backbone of this country but starting the late 1 1970s, the steel mill started to close, kicking this proud town in the gut. entrepreneur magazine named it one of the top ten best cities to start a new business. that's something that would have been unthinkable just a decade ago. >> it's a wireless device to allow students in the classroom to communicate with teachers. highly skilled, highly qualified people from a lot of good universities and colleges in the area, we were able to pick the best and brightest of for good paying technology jobs.
everywhere at once at all times. and in greece, it was an utter disaster. so, i would love to follow hovering behind him, churchill as he goes from meeting to meeting. and then when he sells his generals on the viability of going to norway or thinking about it, he says no. we will go to some mantra. he gave them fits -- we will go to sumatra. he gave them fits. >> so, you tell all kinds of stories in your. to cover the dunkirk story. what year was dunkirk. where was he in that process? >> the evacuation? >> yes. >> that would be the last week of may, the first few days of june in the 1940's. the french had been defeated essentially in brittany. the french expeditionary force, 100,000 men strong, half of them were stalled of the san -- south of the sienne. the other have spearheaded against the germans, and in short order the french collapsed against belgium. they did it over a week -- at first, they thought they would get 10,000 or 12,000 men out. then anything that could float was sent over there. the got more than 200,000 british troops out. i found it interesting that several thousand fren
. 1.7%. all those predictions were -- >> they were playing ridiculously low rates in greece too. it's a dollar bubble. it's a treasury bond bubble. will it burst in 2013? maybe. it's going to burst eventually. it has to burst. >> peter, it's not a model. it's not a model to say something bad will happen eventually. >> your model about being a pollyanna and having your head in the sand -- >> it's not. >> how did you miss the financial crisis? >> i have no idea what you're talking about, peter. i have no idea what you're talking about. i was one of the first reporters to report on the housing and the mortgage crisis. i'll show you the clips. >> you were one of the guys laughing on me when i was report -- >> like a lot of what you say is ridiculous. >> guys, guys. [ overlapping speakers ] >> time-out. >> something bad will happen eventually, peter. >> time-out guys. i have a question for you peter. you're predicting currency crisis and significant depreciation of the u.s. dollar. what is the money going to? what is a good alternative currency? >> there is no good alternative. gold is t
it was dubai and bp oil spill or greece or spain or the deleveraging or foreclosures. any of these things that we're supposed to take us out and yet we keep moving. i think the fiscal cliff is another one of these. >> let me ask you about the timing then. deutsche bank had a note out yesterday where they suggested that central banks have bought us a six months of time on the markets. if pmis do not improve, will we see growth? what would you say to that view? >> i mean, i'm pretty simple on this. i do not believe and we could debate this probably all day that quantitative easing itself has helped the economy at all. banks put that money right back to the fed as excess reserves. it hasn't boosted money in the economy. i don't believe that we've seen a false rally or sugar high. i think the growth in the economy and growth in the markets has been driven by productivity and profits. i think it's real. it's slow. it's real. we're going to have a weak fourth quarter. i believe most of that weakness is because of sandy. we're going to pick up later in the quarter. we'll have 2.5% to 3% growth n
, the current news media, we're not spain, we're not greece, we're not totally messed up like europe. this is a country where if we could just get government to quit screwing up, we would do fine over the next 20 years. [applause] but imagine the consultant report if they came out and said, you know, general washington, we've evaluated the situation, and you have one axe and 14,000 people. we think this is bad. [laughter] we think you should be deeply depressed and consider quitting. [laughter] a congress that isn't doing well enough to be worthy of at least a couple hundred axes doesn't deserve your loyalty. why don't you go home. now, these people wanted to be free, and they were prepared to die. when they cross the delaware on christmas night in a desperate last effort before the army ceases to exist, their slogan, their password is victory of death. victory or death. and they meant it. it wasn't victory or i'll cry for six weeks. [laughter] it wasn't victory or i'm not going to watch fox news for a month. [laughter] it wasn't victory or i think i'll pout. [laughter] these people
on it. john travolta, olivia newton-john, co-star from "greece." ♪ get the wheels down i'm coming home tonight ♪ >> i thought we were -- on so many levels, look, i wish him best and i don't know the guy. i'm sure he's a lovely person and stuff, there's something going on. i don't know. there's a lot going on. >> i so disagree. >> you like it? >> i do. i think it's great, between the two. i do. >> you are just -- >> no. for the love of god. i think it's really cute, the two of them together. >> sure. okay. >> okay. >> that's your story, you're sticking with it. >> is it on a plane? >> well, you know -- he's landing his plane, charlie. >> they're reunited. >> oh. >> maybe you can -- >> like a uv willy lady. >> just a nice guy. nothing but the best and hope it's a huge success. i got no dog in the pond. >> as i said what do i know about music? >> there you go. we're glad your sight returned. >> i'm glad my sight returned to see that music video. >> thank you. >> you're welcome. >> one of the blessings of having sight. >> wrap it up. continuing the conversation after the break. we'll be
repaired, if you will, greece, now. we don't have to worry about europe at least until the second half of the year. we have stability in china because of economic activity and that was a drag and then we have the doj promising tease and the federal reserve doing the same thing and all of a sudden it is not the world looking over the cliff, but we 3-quarters of the world looking the other way starting to come back and that is the difference. tracy: what happens? we are stealing from queue to. >> we always steal from one quarter to another. tracy: europe might come back to bother us again the second half of the year. could that mean an okay first half, second half disaster's again? >> we never have smooth sailing at anything. sell in may and go away. which works sometimes and doesn't work. what we feel good about is investors are forced with a problem that dividend taxes are going to go up. to me that is a good problem because it is going to take investors out of the safety of the blue chips and staples and utilities and put them into faster growth equities. riskier. if we look at the ri
legislator of athens in ancient greece. and he replaced the prevailing system at the time of oral, law and blood feud by a written code of rules that could only be enforced by a court. the first court system. so the rules, because they were written, were hard to get around so they were draconian rules, which is where draconian -- draco. >> wasn't he in harry potter, too? >> he was also in harry potter. i don't know.was he? >> i think he was the bad kid growing up. >> and, anyway, with that out of the way and the world hurdling to an end tomorrow, still to come, if you want to know whether or not you should be optimistic about a fiscal cliff deal -- >> oh, draco malfoy. >> oh, yeah, the young bad kid? >> the blond kid. >> he was so good he was bad. check out the markets on any given day and we're going to do just that. tell what's happening with the fiscal cliff. [ penélope ] i found the best cafe in the world. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and
to our problems so we don't end up in the situation europe is, or greece with riots, or france with a top 75% tax rate that's driving people offshore. >> the problem may be that paul ryan coming through with solid plans on the deficit issue, and ultimately didn't win the white house. is it possible to have the conversation with america get voted in, and then take action? >> personally, i think the ryan plan was an abomination, because it was so vague, that you can't tell whether it was a real plan or not. >> it was not vague. it was written down in the house budget. >> it is absolutely unspecified across all kinds of loophole closings and other things, which makes it filed under category of fiction for anybody that's ever worked in the united states senate. >> specifically it's written specifically in the path to prosperity. it was passed by the house. you can look at path to prosperity in google. you see many of the details. at least the house passed a budget, which the senate has not done for the past three years. the house has laid out solutions. also, laid out changes to the sequester
and especially greece. the other thing we could do is come to a midline course of action where you could actually -- what can you minimally due to cut spending? what can you minimally due to have shared sacrifice so everyone is sacrificing something in this game? the other thing we don't talk about -- the interest rates on the deficit have been the lowest in 200 years. if we went back to what it was 50 years ago, it would triple. ishave not got to thin leaderst not about being popular or well- liked. he may lose his leadership role. in the end, he would have saved this country from fiscal disaster, from bankruptcy, and a crisis that will affect all americans them that all americans. . all americans. host: what would you like to see done? is this a united opinion on the right when it comes to how it should be handled? guest: let's take the impact of the tax policies. that is a very good question. if you are a worker making $60,000 a year, head of household, and if your income bracket is $60,000 a year, currently he will pay $7,800 -- you will pay $7,800 in taxes which means your net income will be
. >> gretchen: we look at what is happening in greece where they can not print their own money and they have a massive spending problem. you have rioting in the street. so in a way, in america, since you can print the money, it's just kicking the can down the road, right? >> i think people realize intuitively, this can't work forever. the biggest buyer now of our long-term bonds is the federal reserve. in other words, the government itself is printing money to loan to the government. this can only work for some period of time before the rest of the world says, we no longer trust the u.s. dollar. we don't give it the credibility we used to. >> brian: people outside our windows don't trust the u.s. dollar. that's the scary part. >> people have been excited about the rise in home prices. it's just the long-term, this is not how you grow an economy. this is not how you thrive. >> gretchen: all right. you heard it from james freeman, with the "wall street journal." thanks. >> thanks. >> brian: 19 minutes after the hour. >> gretchen: no love for jesus? a jesus look alike tossed right out of a spor
harry, during one of the breaks, talking about greece. you had an unconventional view, i think, of what's going on there. >> still tons of issues, major risks but i think finally some signs after five years of decline, it is starting to bottom. first, the eu demonstrated they will do anything to keep power, partly because he has made some progress and partly because the alternatives are scarry. finally seeing improvements in the budget deficit numbers. >> you are buying stuff? >> looking at stuff. finally start to see investors move in 2013. already seen government bonds in 2012 and i think you will see asset sales. >> you agree? you remember your name before -- >> that does it for us today. make sure you join us tomorrow. right now, time for "squawk on the street." >>> good morning, welcome to squawk on the street. i'm carl quintanilla, melissaly, jim cramer. nyse euro net selling itself to ice for 8.2 billion in cash and stock. david is here to break it down. >> go through some of the numbers four. the deal itself having been officially announced in the last half hour or so b
greece they are not a monolithing society. for some people that would be totally impossible to utter a word or a sound. for other people it's cathartic to open up and express their love and devotion and to have the final words over someone they love. i try very much as a pastor not to among their relationships and emotions and how they use to commemorate the person they leaply will have. >> as a reporter i like to get as many information as you can. i want to know every detail about everything and that's a way of processing it, managing it. people must ask you questions you cannot answer. and they say where was god when this happened? >> it's precisely as you is asaid i've tried to avoid answers goesable temporary. there are some things that are handeds now life that we do not know or understand. these areas, ambiguous areas where we don't have a deficit answer it's better not to give any answer at all than to give one inappropriate. that's why we have faith for those things we cannot explain and point to directly, we have to frtrust god and lean on him get through the sufficient tim
a year. greece has a debt problem. we have a significant debt problem. martha: indeed. stuart, thank you. >> sure. bill: $16 trillion. now to newtown, connecticut, attempted normalcy and so much heartache. schools in the area opening first time since friday's massacre except of course sandy hook elementary which remains closed indefinitely as police continue their investigation there. there are questions whether it will be ever reopen. volunteers in the neighboring town of monroe, seven miles away, hard at work, getting a former middle school ready for sandy hook students. all of this as the grim task of bearing so many young innocents gets underway. 10:00 in the morning funeral services begin for james mattioli. followed by services for jessica reek coast. -- rekos. a rabbi spoke about that service. >> being celebrated as a pure innocent child by the promise of life ahead of him. who brought joy to his family and to his community and who will be sorely missed. as his older brother said he could have been anything if he had grown up. this is tragedy that we have no answers for this. bill
to the status of greece? not at all. the simple truth is we are almost close to a position with the status quo would solve our problems. that is to say the expiration of the tax cuts pretty much take care of our intermediate deficit problem and implementation of the cost saving measures strengthened over time in the aca will deal with their long-term health care problem. so we are not that far away and we have other tremendous strengths in our country that would allow us to make the kind of investment to transform the economy, to do with the reality of stagnant wages and a sense of diminished opportunities. we have strengths. we can do it. we need the public to rain and behavior that's destructive and we need political leaders to act forcefully. given enough to bipartisan commissions and searched enough for bipartisan consensus. for sensible hard all politics along these lines. >> norm, i particularly cutie take the money question. a couple political had a great shared that showed that party polarization in congress was directly correlated with increasing concentrations of wealth from increasi
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